SBI General Insurance forges bancassurance tie-up with IDFC FIRST Bank

Through the alliance, SBI General Life Insurance will offer a range of non-life insurance solutions

  • Money9
  • Updated On - June 21, 2021 / 05:53 PM IST
SBI General Insurance forges bancassurance tie-up with IDFC FIRST Bank

SBI General Insurance has tied up with IDFC FIRST Bank for a bancassurance partnership for selling its insurance products. The company has signed a corporate agency agreement for the distribution of non-life insurance solutions with IDFC FIRST Bank.

As per the agreement the company will offer insurance products such as health, personal accident, home, motor, and travel along with the commercial line of insurance products such as property, marine, and engineering insurance, to the bank’s customers.

“We are happy to further strengthen our distribution network through this partnership and look forward to achieving new milestones. This will help us extend our range of products to a larger customer base. Our overall aim continues to remain the same i.e. to enhance insurance penetration in the country by ensuring access to all,” said Amar Joshi, head, emerging business lines, SBI General Insurance.

“We are pleased to associate with SBI General Insurance and bring more value-added products and services to our customers. The expansion of our non-life insurance portfolio could not have come at a better time as it provides our customers both health and wealth protection and complements our existing wealth management offering.”

IDFC FIRST Bank has a digital-first approach and serves customers through its state-of-the-art net banking platform and an intuitive, user-friendly mobile app, which complement its nationwide branches, ATMs, and loan centers.

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